Hong Kong to Allow Regular Investors Buy Crypto ETFs; Bloomberg Reports

Hong Kong's Securities and Futures Commission (SFC) is making a big move. They now let everyday people invest in crypto Exchange Traded Funds (ETFs). Julia Leung, the SFC boss, told Bloomberg, “We’re happy to give it a try as long as new risks are addressed. Our approach is consistent regardless of the asset.” claiming that they are ready to give it a try a long as safety is considered first

The SFC in Hong Kong has beenopen-minded about crypto. Their rules have changed a lot this year.

At first, in January, they made it tough for regular people to buy crypto ETFs. Only rich investors with at least 8 million HKD ($1 Million) could do so. But in October, things changed. Now, more people can invest if they learn about it first and have some money saved up, but not as much money as before is required.

The SFC said, "We changed the rules because the market is changing and people in the business want more people to be able to buy crypto. Now, with safety measures, people can invest and withdraw their crypto money with companies." Companies that sell crypto have to tell buyers about the risks.

Leung told Bloomberg, "As we get more comfortable with how the crypto world is growing, we will let more people invest in the digital currency."